Alphabet Inc. (NASDAQ:GOOGL) Stake Lessened by Brasada Capital Management LP

Brasada Capital Management LP lowered its position in Alphabet Inc. (NASDAQ:GOOGL) by 2.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 92,566 shares of the information services provider’s stock after selling 2,077 shares during the period. Alphabet comprises about 3.1% of Brasada Capital Management LP’s investment portfolio, making the stock its 5th biggest holding. Brasada Capital Management LP’s holdings in Alphabet were worth $17,672,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Principal Financial Group Inc. lifted its position in Alphabet by 3.1% during the third quarter. Principal Financial Group Inc. now owns 11,283,594 shares of the information services provider’s stock valued at $1,871,384,000 after purchasing an additional 337,031 shares in the last quarter. Passumpsic Savings Bank raised its stake in shares of Alphabet by 38.0% in the third quarter. Passumpsic Savings Bank now owns 4,700 shares of the information services provider’s stock worth $779,000 after buying an additional 1,294 shares during the period. SOA Wealth Advisors LLC. lifted its position in shares of Alphabet by 0.5% during the 3rd quarter. SOA Wealth Advisors LLC. now owns 37,379 shares of the information services provider’s stock valued at $6,199,000 after buying an additional 202 shares in the last quarter. SkyView Investment Advisors LLC grew its stake in shares of Alphabet by 6.0% during the 3rd quarter. SkyView Investment Advisors LLC now owns 2,306 shares of the information services provider’s stock valued at $382,000 after acquiring an additional 130 shares during the period. Finally, Te Ahumairangi Investment Management Ltd increased its holdings in Alphabet by 19.2% in the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 137,669 shares of the information services provider’s stock worth $22,703,000 after acquiring an additional 22,169 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 1,340 shares of Alphabet stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $202.08, for a total transaction of $270,787.20. Following the transaction, the chief accounting officer now directly owns 17,848 shares of the company’s stock, valued at $3,606,723.84. This trade represents a 6.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Kavitark Ram Shriram sold 29,066 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $184.89, for a total value of $5,374,012.74. Following the sale, the director now owns 272,466 shares of the company’s stock, valued at approximately $50,376,238.74. This represents a 9.64 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 148,163 shares of company stock worth $25,361,647. Company insiders own 11.55% of the company’s stock.

Alphabet Stock Up 2.6 %

NASDAQ:GOOGL opened at $151.47 on Wednesday. The stock has a fifty day simple moving average of $163.72 and a 200-day simple moving average of $175.61. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The company has a market cap of $1.85 trillion, a price-to-earnings ratio of 18.82, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.53%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet’s dividend payout ratio is 9.94%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Roth Mkm reiterated a “buy” rating and issued a $220.00 price target on shares of Alphabet in a research report on Wednesday, March 19th. Westpark Capital raised shares of Alphabet to a “strong-buy” rating in a report on Tuesday, April 1st. Citizens Jmp cut Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Wedbush set a $190.00 price objective on Alphabet and gave the company an “outperform” rating in a research report on Tuesday, April 15th. Finally, Rosenblatt Securities reiterated a “neutral” rating and set a $205.00 target price on shares of Alphabet in a research report on Wednesday, March 19th. Ten analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and five have assigned a strong buy rating to the company. Based on data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $200.74.

Alphabet Company Profile

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.